Thursday, October 7, 2010

Bank of America Suspends Foreclosures

Bank of America is the latest lender to suspend foreclosure. The bank joins J.P. Morgan Chase & Co and GMAC Home Mortgage Inc. in the suspensions. The suspensions affect homeowners in 23 states.

The cause of the suspensions are "robo-signers" that repossess homes in default without reviewing the loan documents.

Read more about suspending of foreclosures on the Wall Street Journal website.


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